Detailed Answer
When co-owners in Connecticut decide to sell real estate together, coordinating on a real estate broker (commonly called a realtor) is key to a smooth process. Most co-owners hold property as tenants in common by default under Conn. Gen. Stat. § 47-14 (Conn. Gen. Stat. § 47-14). Each owner has an equal right to sell, but differing priorities can lead to conflict if you don’t agree on a broker.
1. Establish common goals and criteria. Schedule a meeting with your co-owner to discuss your timeline, target sale price, preferred marketing approach and acceptable commission rate. Choosing criteria up front ensures you both evaluate potential brokers consistently.
2. Research and interview multiple brokers. Ask for referrals, check online reviews and verify each broker’s license and disciplinary history with the Connecticut Department of Consumer Protection. Under Conn. Gen. Stat. § 20-311, brokers owe fiduciary duties to clients (Conn. Gen. Stat. § 20-311).
3. Negotiate and memorialize your agreement in writing. Connecticut law requires a written listing agreement before a broker may market your property. In the agreement, define commission, listing duration, marketing channels, and any dual-agency disclosures. Chapter 392 of the Connecticut General Statutes lays out licensing and disclosure rules for real estate brokers (Conn. Gen. Stat. Chapter 392).
4. Use mediation or expert advice to break deadlocks. If you and your co-owner cannot agree on broker terms, consider hiring a professional mediator. Mediation helps preserve relationships and avoid costly litigation.
5. Know your statutory fallback—partition. Should all else fail, any co-owner may file a partition action in Superior Court under Conn. Gen. Stat. § 52-500 et seq. A judge may order sale of the property by a court-appointed commissioner. See Conn. Gen. Stat. § 52-500 for more information.
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified attorney for advice tailored to your situation.
Helpful Hints
- Communicate early: set ground rules on price, commission and marketing before talking to brokers.
- Check licenses: verify broker credentials and any disciplinary history with the Connecticut Department of Consumer Protection.
- Get it in writing: ensure your listing agreement clearly covers all terms, including duration and fees.
- Consider mediation: a neutral third party can help resolve disputes without court intervention.
- Understand partition rights: if co-owners reach an impasse, any owner can seek a court-ordered sale.